Skip to content

Arlington home-sellers got less than 100% of asking price in April

Figures still translated to increase in average sales prices, however
home-sale-21

Arlington home-sellers in April received less, on average, as a percentage of original listing price than those who sold a year before did.

The average home-sale amount across Arlington in April was 99.36 percent of original listing price, according to figures reported by MarketStats by ShowingTime based on listing activity from Bright MLS.

That compares to 102.56 percent a year before.

That does not mean that sellers were necessarily getting less: Add up all the figures and the median average sales price across all sectors for April was $837,632, up 2.1 percent from $820,596.

But the data do suggest that either buyers were listing a little too aggressively; sellers were not as compelled to bid up homes; or a combination of the two.

Northern Virginia in the spring of 2022 was in the midst of a real-estate feeding frenzy, as buyers were attempting to beat interest-rate increases while sellers were happy to cash in. These days, buyers remain out and about, but sellers are scarce – although that seems not to be resulting in bidding wars as intense as a year before.

The April rate of 99.89 percent in Arlington was an improvement from the year-to-date (January-to-April) figure of 98.47 percent, which itself was down from 100.65 percent for the first four months of 2022. That suggests a return to seasonal norms, with more activity (and higher prices) after winter turns to spring.

Across the rest of Northern Virginia, the ratio of sales price to original listing price was up in April compared to a year before in Falls Church (102.37% vs. 100.93%) but down everywhere else:

• In Fairfax County, the rate of 102.04 percent was down from 105.11 percent.

• In Loudoun County, the rate declined to 101.67 percent from 104.62 percent.

• In Prince William County, the rate stood at 101.21 percent, down from 104.59 percent.

• In Alexandria, the rate of 100.37 percent was down from 102.56 percent.

For the Mid-Atlantic region as a whole, April’s ratio of sales price to listing price was 99.89 percent, down from 102.56 percent.

Figures represent most, but not all, homes on the market. April figures are preliminary and are subject to revision.